Author: Editorial Desk

The World Trade Center (WTC), Abuja, has unveiled a dedicated export launch pad to enhance Nigeria’s trade competitiveness and support small and medium-scale enterprises in accessing global markets. Unveiled by WTC Abuja Vice President Ahmed Adelaja following a webinar on ‘Navigating Global Uncertainties and Breaking Barriers to Growth,’ the launch pad serves as the centre’s flagship business accelerator. Adelaja described it as a strategic response to persistent challenges limiting Nigeria’s participation in global trade and aligned with national and continental development goals, including Nigeria’s economic diversification plan and the African Union’s Agenda 2063. The new initiative will offer services such…

Hong Kong stocks surged on Tuesday, with the benchmark Hang Seng Index nearing a two-month high amid optimism over potential high-level trade discussions between the United States and China. The Hang Seng Index rose 1.5% to close at 23,512.49, the highest since March 19, while the Hang Seng Tech Index gained 1.1%. Investor sentiment was driven by the possibility of direct talks between U.S. President Donald Trump and Chinese President Xi Jinping. White House spokeswoman Karoline Leavitt indicated on Monday that a conversation between the two leaders was “likely” to take place this week, though no further details were provided.…

Trade Secretary Jonathan Reynolds is set to meet with U.S. officials in Paris on Tuesday to secure the UK’s exemption from steep U.S. steel tariffs, amid growing uncertainty over former President Donald Trump’s trade policies. Earlier this month, the UK and the U.S. announced a trade agreement that was expected to shield British steel from new levies. However, the deal has not yet been implemented, and key details remain under negotiation. Reynolds is scheduled to discuss the deal’s execution with Jamieson Greer, U.S. Trade Representative, during their Paris meeting. The talks come at a critical time, following a turbulent week…

The Department of International Trade Promotion (DITP), through its Office of Commercial Affairs in Hanoi, has reported promising signs of recovery in Vietnam’s automotive market during the early months of 2025, marked by rising auto sales and improving consumer confidence. According to data from the Vietnam Automobile Manufacturers’ Association (VAMA), vehicle sales in April 2025 reached 29,585 units. While this represented a 7% dip compared to March, it reflected a 21% year-on-year increase, indicating a positive growth trajectory. Passenger vehicles continued to dominate the market in April with 20,766 units sold, followed by commercial vehicles at 8,619 units. Notably, special-purpose…

Thailand is preparing to expand its chicken exports following a temporary poultry ban on Brazil by China and the European Union, triggered by a confirmed outbreak of highly pathogenic avian influenza (HPAI) at a Brazilian farm. Brazil, the world’s leading poultry exporter, shipped over 793,000 tons of chicken to China and the EU last year, nearly 15% of its total poultry exports, according to the Brazilian Association of Animal Protein Exporters. With both markets halting imports as a precautionary measure, Thailand sees a strategic opportunity to fill the supply gap. Somchuan Ratanamangkalanont, Director General of Thailand’s Department of Livestock Development,…

Britain’s steel sector is facing renewed turmoil as the United States prepares to raise tariffs on UK steel imports from 25% to 50% starting Wednesday, despite a recent announcement of a deal intended to eliminate such duties. The tariff increase, replacing measures introduced by President Donald Trump earlier this year, comes amid delays in finalizing the UK-U.S. agreement, announced on 8 May by the UK Prime Minister. With the deal still pending implementation, British steel exports to the U.S., the UK’s second-largest steel market, remain vulnerable. UK Steel, the industry’s trade body, has warned that the sudden escalation in tariffs…

China’s factory activity shrank in May, though the pace of decline eased compared to the previous month, reflecting tentative signs of stabilisation following a new tariff deal with the United States. According to data released by the National Bureau of Statistics (NBS) on Saturday, the official Purchasing Managers’ Index (PMI) rose to 49.5 in May from 49.0 in April. A PMI reading below 50 indicates contraction, while a score above 50 signals expansion. The manufacturing index showed signs of growth, yet the sub-index for new orders remained below the 50 threshold, suggesting demand remains sluggish despite some improvement. NBS senior…

South Africa has proposed a 10-year liquefied natural gas (LNG) import agreement with the United States, aiming to deepen economic ties and secure broader trade concessions. The LNG deal forms part of the country’s broader effort to stabilize its energy supply and strengthen its position as a key U.S. trade partner. In a ministerial statement signed by Khumbudzo Ntshavheni, Minister in the Presidency, South Africa expressed interest in purchasing 75 to 100 petajoules of LNG annually from the U.S., which is currently the world’s leading LNG exporter. The deal is expected to generate $900 million to $1.2 billion in annual…

Saudi Arabia is strengthening its push to expand non-oil exports across Africa, with the Saudi Export-Import Bank (Saudi EXIM) signing four new memoranda of understanding (MoUs) aimed at enhancing trade and investment partnerships on the continent. Saudi EXIM CEO Saad bin Abdulaziz Al-Khalb formalized the agreements with Africa50, the Ghana Export-Import Bank, Blend International Limited, and Guinea’s Ministry of Planning and International Cooperation during the African Development Bank Group’s annual meetings, held in Cote d’Ivoire from May 26 to 30. The move aligns with Saudi Arabia’s broader strategy to diversify its economy beyond oil, as trade between the Kingdom and…

Thailand’s Ministry of Commerce has announced 10 urgent policies to drive export growth and strengthen the country’s role in global trade, amid rising international competition and economic fluctuations. The initiative was led by Commerce Minister Phichai Naripthaphan during a high-level meeting at the ministry’s headquarters in Bangkok. Attended by over 200 participants, including senior officials, Thai trade envoys, and representatives from major industry organizations, the session focused on coordinated efforts to enhance trade performance in the latter half of the year. Representatives from the private sector, including Kriengkrai Thiennukul of the Federation of Thai Industries and Thanakorn Kasetsuwan of the…